Fmr LLC Cuts Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Fmr LLC lowered its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,880,354 shares of the company’s stock after selling 4,290 shares during the period. Fmr LLC owned 0.09% of Perella Weinberg Partners worth $152,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PWP. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Perella Weinberg Partners by 122.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after buying an additional 5,379 shares during the last quarter. Intech Investment Management LLC purchased a new position in Perella Weinberg Partners in the third quarter worth $197,000. Price T Rowe Associates Inc. MD increased its position in shares of Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after purchasing an additional 1,753 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Perella Weinberg Partners by 17.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock worth $272,000 after purchasing an additional 2,537 shares in the last quarter. Institutional investors own 41.07% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities increased their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th.

Insider Buying and Selling

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the sale, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This trade represents a 34.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the transaction, the president now owns 379,140 shares of the company’s stock, valued at $9,281,347.20. The trade was a 53.88 % decrease in their position. The disclosure for this sale can be found here. 43.53% of the stock is owned by corporate insiders.

Perella Weinberg Partners Stock Down 1.3 %

NASDAQ PWP opened at $25.46 on Wednesday. Perella Weinberg Partners has a 12-month low of $10.73 and a 12-month high of $26.62. The company has a fifty day simple moving average of $22.35 and a two-hundred day simple moving average of $18.98.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The company had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The firm’s quarterly revenue was up 100.1% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.07 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 1.10%. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.